Are you shopping around for affordable car insurance? Using an online car insurance calculator can be useful for getting an overview of different car insurance options from various insurance providers. But a calculator might not show you results that are tailored specifically to you and your vehicle.
Calculating the cost of your car insurance
At OUTsurance, our call centre advisors are expertly trained to calculate the cost of your car insurance based on your unique profile. Just think of your OUTsurance advisor as your very own car insurance calculator!
They won't make assumptions about you, your car or your insurance requirements. Instead, they'll take the time to really get to know you, so that your premium is matched to your profile.
Here are some of the factors we take into account when calculating the cost of your car insurance:
Good claims history:
When you insure your car, you have peace of mind knowing you're protected against larger incidents, accidents, or theft. But it’s best to avoid claiming from insurance every time your car has a little bump or scratch. This is because it’s likely that your monthly premium will be higher if you’ve claimed a lot in the past.
A healthy credit rating:
An online car insurance calculator probably won't take your credit history into account, but it's an important factor to consider. A good credit history acts as an indication that you’re on top of your financial obligations. This could help you insure your vehicle for less, because it can be seen as an indication that you’re more likely to stay up to date with your monthly car insurance payments
Age:
A less experienced driver is likely to pay more for car insurance than a more experienced driver. It’s important to regularly ask for new car insurance quotes, so you can review the insurance cover that you have. You might find that your car insurance cost gets lower as you get older.
Good security:
You could have the exact same car as your friend and end up paying less for car insurance. One of the reasons for this is that we factor in your security at home and work, to see how much protection you have against vehicle theft. If you park your car in a locked garage at home and in a secure office car park at work, your premiums will likely be lower. But a driver who parks on the street may end up paying more. This is why it’s important to tell your insurer about any anti-theft measures you have in place, such as tracking devices.
Vehicle Details
The make, model, age, and value of your car matter. Comprehensive cover provides extensive cover for all vehicle types and models, regardless of the age of the vehicle.
Older, unfinanced cars (older than 5 years and valued at less than R130,000) qualify for Essential cover at a lower cost, covering you for loss and damage caused by theft, hijacking, accidents, and up to R1 million liability cover
The type of cover (Comprehensive vs. Essential), optional add-ons, and your chosen excess amount affect the monthly premium. Comprehensive cover comes with a default excess amount, but you can opt for a higher voluntary excess to reduce your premium. Your excess amount will remain fixed, irrespective of the claim amount. With OUTsurance Essential, the first amount payable is deducted from the final cash payout amount, i.e. no out-of-pocket payments when you need to claim.
How to get the best possible price for car insurance
When you take out insurance, we’ll ask you a series of questions. These include questions about the specifications of your car, how far you commute every day, whether you use your car for private purposes only, and even if you've completed advanced driving courses.
One of the best ways to ensure you get the right car insurance at the right price is to give us detailed, honest answers. Remember to think of your OUTsurance advisor as your insurance calculator, and you want that calculator to be as accurate as possible!
Of course, it’s equally as important for you to feel free to ask us questions too. We pride ourselves on our best-in-class service, and a dedicated OUTsurance advisor is just a phone call away.
Here are some of the factors we take into account when calculating the cost of your car insurance:
Good claims history:
When you insure your car, you have peace of mind knowing you're protected against larger incidents, accidents, or theft. But it’s best to avoid claiming from insurance every time your car has a little bump or scratch. This is because it’s likely that your monthly premium will be higher if you’ve claimed a lot in the past.
A healthy credit rating:
An online car insurance calculator probably won't take your credit history into account, but it's an important factor to consider. A good credit history acts as an indication that you’re on top of your financial obligations. This could help you insure your vehicle for less, because it can be seen as an indication that you’re more likely to stay up to date with your monthly car insurance payments
Age:
A less experienced driver is likely to pay more for car insurance than a more experienced driver. It’s important to regularly ask for new car insurance quotes, so you can review the insurance cover that you have. You might find that your car insurance cost gets lower as you get older.
Good security:
You could have the exact same car as your friend and end up paying less for car insurance. One of the reasons for this is that we factor in your security at home and work, to see how much protection you have against vehicle theft. If you park your car in a locked garage at home and in a secure office car park at work, your premiums will likely be lower. But a driver who parks on the street may end up paying more. This is why it’s important to tell your insurer about any anti-theft measures you have in place, such as tracking devices.
Vehicle Details
The make, model, age, and value of your car matter. Comprehensive cover provides extensive cover for all vehicle types and models, regardless of the age of the vehicle.
Older, unfinanced cars (older than 5 years and valued at less than R130,000) qualify for Essential cover at a lower cost, covering you for loss and damage caused by theft, hijacking, accidents, and up to R1 million liability cover
The type of cover (Comprehensive vs. Essential), optional add-ons, and your chosen excess amount affect the monthly premium. Comprehensive cover comes with a default excess amount, but you can opt for a higher voluntary excess to reduce your premium. Your excess amount will remain fixed, irrespective of the claim amount. With OUTsurance Essential, the first amount payable is deducted from the final cash payout amount, i.e. no out-of-pocket payments when you need to claim.
How to get the best possible price for car insurance
When you take out insurance, we’ll ask you a series of questions. These include questions about the specifications of your car, how far you commute every day, whether you use your car for private purposes only, and even if you've completed advanced driving courses.
One of the best ways to ensure you get the right car insurance at the right price is to give us detailed, honest answers. Remember to think of your OUTsurance advisor as your insurance calculator, and you want that calculator to be as accurate as possible!
Of course, it’s equally as important for you to feel free to ask us questions too. We pride ourselves on our best-in-class service, and a dedicated OUTsurance advisor is just a phone call away.
Why OUT is better than IN
Other car insurance companies may give you car insurance quotes based on assumptions about your risk profile. This may mean that you end up subsidising higher- risk clients when you may be a low-risk client.
At OUTsurance, you get a personalised premium based on facts. This means that we take your personal risk factors into account which could very well lead to you saving on your car insurance.
Are you ready to see if you could be one of the thousands of happy clients who save on vehicle insurance every month? Get a quote today to get quality, comprehensive car insurance tailored specifically to your budget and your needs.
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Frequently asked questions about calculating the cost of car insurance
How to calculate your car insurance premiums?
Car insurance premiums are calculated by assessing multiple factors, including the risk profile of the vehicle and driver, the likelihood of claims, and more scientific methods than some competitors. Increasing the number of vehicles on cover increases risk and the premium accordingly. The value insured may be set to a minimum threshold for accident and theft cover, regardless of actual vehicle value.
Calculating the cost of your car insurance?
The cost of your car insurance is based on clear rating factors, like your driving history and your car’s risk. It also uses underwriting factors that look at your specific situation. Adding more vehicles increases the risk and the premium. The premium set reflects both individual vehicle and overall policy risk.
How to get the best possible price for car insurance?
To get the best possible price for car insurance, consider the type of cover, your driver profile, and whether you need added services (like a tracking device). Essential cover is often cheaper than comprehensive but not always, especially if the driver is young or high-risk. Most insurers base the insured value on the market value of your car. Comparing different insurers and tailoring coverage to your needs helps ensure the best price.